11 May

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AstraZeneca CEO pay package rise gets narrow investor approval By Reuters

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By Pushkala Aripaka and Ludwig Burger (Reuters) -AstraZeneca shareholders narrowly approved Chief Executive Pascal Soriot's proposed pay package on Tuesday, after investor advisory groups said its rewards were excessive. At its annual investor meeting, 60.19% of votes cast were in favour of approving the new remuneration policy, AstraZeneca (NASDAQ:AZN) said, acknowledging that a "meaningful proportion" were against. Shares in London-listed AstraZeneca were down 1.3% to 7,615 pence at 1404 GMT after the vote, which comes as the drugmaker faces a second European Union legal move over delayed deliveries of its COVID-19 vaccine and concerns over...

11 May

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Oil Giants Slump Despite Hope Colonial Pipeline Back Online By Weekend By Investing.com

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By Dhirendra Tripathi Investing.com – Shares of oil giants Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM) and Royal Dutch Shell (NYSE:RDSa) slumped Tuesday even though fears about a prolonged outage of the largest U.S. fuel pipeline system receded. Chevron and Shell each fell 2%, while Exxon fell nearly 3%. BP (NYSE:BP) traded 2% lower, Marathon Petroleum (NYSE:MPC) fell 2.4% and Occidental Petroleum (NYSE:OXY) fell more than 7%, the last one also owing to it reporting losses Monday for the March quarter. A disruption to retail supplies would have hiked prices at the pump, a distant...

11 May

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I’m truly sorry, says Australian banker Greensill over firm collapse By Reuters

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LONDON (Reuters) - Australian banker Lex Greensill on Tuesday said he was sorry over the collapse of his supply-chain finance firm Greensill Capital, and that he took full responsibility for its failure. "I am truly sorry," Greensill told a parliamentary committee investigating the collapse. "Please understand that I bear complete responsibility for the collapse of Greensill Capital." ...

11 May

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UK keeping a ‘close eye’ on Indian variant as COVID restrictions ease By Reuters

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LONDON (Reuters) - Britain is keeping a close eye on the Indian variant of COVID-19 but measures such as enhanced tracking and tracing, travel restrictions and the roll out of the vaccine should keep it at very low levels, Health Secretary Matt Hancock said on Tuesday. "We of course are maintaining a very close eye on the Indian variant, there isn't any evidence yet that the vaccine doesn't work against it," Hancock told Times Radio. ...

11 May

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‘Do you want Tesla to accept Doge?’ Musk asks Twitter users By Reuters

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By Subrat Patnaik and Bhargav Acharya (Reuters) -Billionaire Elon Musk and cryptocurrency aficionado on Tuesday asked https:// his 54 million followers on Twitter "Do you want Tesla to accept Doge?", referring to a digital currency worth roughly 48 cents with no real world use. The question, in the form of a Twitter poll, comes days after he called dogecoin a "hustle", which sent the meme-inspired cryptocurrency's price reeling after a 700% rally in a month. A proponent of digital currencies, the Tesla chief executive made the comment as guest-host spot on the "Saturday Night Live" comedy...

11 May

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Exclusive-Toshiba board to appoint UBS as adviser for strategic review -sources By Reuters

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By Makiko Yamazaki, Kane Wu and Scott Murdoch TOKYO/HONG KONG (Reuters) -Toshiba Corp's board is set to appoint UBS as financial adviser to work on a strategic review for the Japanese conglomerate as it faces a possible private equity bidding war, people familiar with the matter said. Last month, Toshiba became the target of a potential takeover bid and other bids could be forthcoming. Investment banks have pitched to Toshiba's independent directors for an advisory role, the people, who could not be named as the information has not yet been made public, told Reuters. A UBS...

11 May

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Major airline CEOs call for summit to speed UK-US travel By Reuters

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WASHINGTON (Reuters) - The chief executives of major U.S. and UK and passenger airlines on Tuesday called for a summit with the two governments to speed the reopening of transatlantic travel. "The airline industry needs adequate lead time to establish a plan for restarting air services, including scheduling aircraft and crews for these routes as well as for marketing and selling tickets," said the letter signed by the CEOs of American Airlines (NASDAQ:AAL) , Delta Air Lines (NYSE:DAL), United Airlines, British Airways, Virgin Atlantic and JetBlue Airways. ...

11 May

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Queen sets out PM Johnson’s ‘levelling up’ jobs agenda By Reuters

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LONDON (Reuters) - Britain's Queen Elizabeth set out the government's "levelling up" agenda on Tuesday, outlining Prime Minister Boris Johnson's focus on boosting investment in infrastructure, healthcare and green technology to create more post-COVID jobs. At a ceremony stripped back because of the pandemic, the Queen, who wore a day dress and hat instead of the usual robes and crown, read out the legislation the government hopes to pass during the next year. "My government's priority is to deliver a national recovery from the pandemic that makes the United Kingdom`stronger, healthier and more prosperous...

11 May

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Brexit market fragmentation leaves some banks struggling, says report By Reuters

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By Huw Jones LONDON (Reuters) - The fragmentation of Europe's capital market due to Brexit has increased operating costs for banks to the point where some struggle to make their UK and EU hubs viable, a report showed on Tuesday. Many banks that used London as a base for serving the European Union have opened hubs in the bloc after Britain's departure from the EU left the City of London largely cut off from the continent. "The aggregate costs across banks’ European operations have risen considerably as a result of fragmentation, without so far a corresponding...

11 May

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Tesla Falls 7% On Plans To Halt Expansion In China, ARK Innovation Drops Too By Investing.com

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By Dhirendra Tripathi Investing.com – Tesla (NASDAQ:TSLA) was down 7% in Tuesday’s premarket following reports that the electric vehicle maker has halted plans to expand its capacity in China, its largest market outside the U.S. Along with the stock, ARK Innovation ETF (NYSE:ARKK), part of Tesla cheerleader Cathie Wood’s ARK Investment group, was down too. Tesla is the ETF’s largest holding with a 10.88% weight. A Reuters report said Tesla has halted plans to buy land to expand its Shanghai plant and make it a global export hub. Tesla had earlier considered expanding exports of...

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AstraZeneca CEO pay package rise gets narrow investor approval By Reuters

Oil Giants Slump Despite Hope Colonial Pipeline Back Online By Weekend By Investing.com

I’m truly sorry, says Australian banker Greensill over firm collapse By Reuters

UK keeping a ‘close eye’ on Indian variant as COVID restrictions ease By Reuters

‘Do you want Tesla to accept Doge?’ Musk asks Twitter users By Reuters

Exclusive-Toshiba board to appoint UBS as adviser for strategic review -sources By Reuters

Major airline CEOs call for summit to speed UK-US travel By Reuters

Queen sets out PM Johnson’s ‘levelling up’ jobs agenda By Reuters

Brexit market fragmentation leaves some banks struggling, says report By Reuters

Tesla Falls 7% On Plans To Halt Expansion In China, ARK Innovation Drops Too By Investing.com

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